Housing loan deduction

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Munivelu.D (Querist)
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28 September 2013 my client took home loan his spouse name and repayment done in his ac. now my question is can we claim both principal repayment and interest for both of them?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 September 2013 theoretically you can. Since the wife won't have any source of income to buy the house, clubbing provisions may apply. In such a scenario, you might be able to claim deduction for interest repayment again the income from house property.

principal repayment could be a trickier issue. In past courts have been liberal on allowing deduction under 80C and 24B. However, in recent years certain judgments have come wherein such deductions have been disallowed.

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